Why XRP’s 63 billion circulating tokens don’t tell buyers what’s for sale

XRP Supply Figures: A Complex Web of Definitions

XRP's circulating supply is roughly 63.09 billion, but this figure can vary depending on the definition used. XRP Insights, a ledger-data tracker, counted 21.97 billion XRP in exchange-attributed wallets on October 8, across 699 wallets and 24 venues. These balances include pooled customer assets and cold storage.

The Issue with Sell Orders

The purchasing question is the size of sell orders at different prices. In an October 8 CoinGecko snapshot, the column labeled "+2% Depth" showed about $2.4 million for Binance XRP/USDT and $4.0 million for Coinbase XRP/USD.

Measuring XRP Supply

CryptoSlate's XRP market page displayed approximately 63.09 billion circulating tokens on October 8. XRP Insights' supply breakdown used a broader figure: 68.59 billion XRP outside Ripple escrow after burns, with 31.40 billion still escrowed. The roughly 63 billion to 69 billion span therefore compares definitions.

The Problem with Definitions

Calling it a range for buyable XRP would give it a meaning neither endpoint measures. CoinGecko's circulation methodology excludes escrow and can also exclude unlocked team or foundation holdings. Starting with a provider's circulating figure and subtracting those categories again risks counting the same exclusion twice.

Alternative Measurements

Measurement XRP Data date Scope Market-reported circulation 63.09 billion Oct. 8 Provider circulation estimate Outside Ripple escrow after burns, XRP Insights definition 68.59 billion Oct. 8 Broad non-escrow supply Ripple escrow, XRP Insights measurement 31.40 billion Oct. 8 Conditional protocol restriction Tracked exchange-attributed wallets 21.97 billion Oct. 8 Attributed custody, including reserves Bitwise and Franklin issuer snapshots, summed 715.79 million Oct. 6 / Oct. 5 Bitwise / Franklin; two redeemable funds only

Conclusion

In conclusion, the available supply of XRP is not a straightforward number. It depends on various factors, including the definition used, the price buyers are willing to pay, and the coverage of executable exchange and over-the-counter offers. A defensible buyable-supply range would require a price limit, a time window, and coverage of these offers.